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Exhibit 15-9 Groundcover, Inc

Question 53

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Exhibit 15-9 Groundcover, Inc. had never had a treasury stock transaction prior to 2013. It experienced the following treasury stock transactions during 2013: Exhibit 15-9 Groundcover, Inc. had never had a treasury stock transaction prior to 2013. It experienced the following treasury stock transactions during 2013:   Assume the cost method is used. -Refer to Exhibit 15-9. The entry to record the reissuance of 400 shares on 4/8/2013 would include a A)  credit to Treasury Stock for $3,200 B)  debit to Additional Paid-in Capital from Treasury Stock for $800 C)  debit to Retained Earnings for $800 D)  credit to Additional Paid-in Capital on Common Stock for $800 Assume the cost method is used.
-Refer to Exhibit 15-9. The entry to record the reissuance of 400 shares on 4/8/2013 would include a


A) credit to Treasury Stock for $3,200
B) debit to Additional Paid-in Capital from Treasury Stock for $800
C) debit to Retained Earnings for $800
D) credit to Additional Paid-in Capital on Common Stock for $800

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